March 25, 2003, Los Angeles - The Insurance Commissioner filed a Petition for Liquidation for Legion and Villanova Insurance Companies. Both companies, domiciled and in rehabilitation in Pennsylvania, are in ancillary receivership in California.
A hearing on the Petition is scheduled for April 25, 2003. The purpose of the Petition for Liquidation is to trigger payments by the California Insurance Guarantee Association in order to protect workers' compensation as well as other policyholders of the insolvent companies.
